When you buy a brand-new investment property, you’re naturally going to want to get your tenants moved in as soon as possible so you can start paying off the mortgage, building equity and seeing some of that income.
2020 was certainly a wild ride, in both the real estate industry and beyond. Now we’ve got our eyes on what’s in store for us during 2021.
Of course, it’s impossible to perfectly predict what could happen, but we can always look for trends to give us an idea of the possibilities.
Over and over, we see people making the same mistakes when investing in real estate. To be honest, It’s frustrating! With just a bit more knowledge or with the help of an experienced team, they could avoid the hassles and financial problems that happen as a result of the mistakes they made when acquiring the property.
You’re probably sick of everyone referring to 2020 as an unprecedented year, but let’s be honest... what else can you say about it? COVID-19 has meant a lot of changes in how we live and how we do business, but you’ll be surprised by how it’s affected the real estate industry!
Just as no two real estate properties are identical, neither are any two real estate investors. Every investor has their own investment journey.
Real estate is almost always a fairly steady investment, but slight changes in the market can make a big difference when it comes time to sell your property. Naturally, you want to sell at a time when you can get the most money, but there are different ways to think about that question.
In some ways, selling an investment property is a lot like selling a personal residence. However, there are other ways where it’s quite different. You have the option to sell it with tenants in place, or you can sell it as a vacant property once the lease with your tenants has ended.